Volvo To Emerge As A Stiff Competitor For Tesla
With the demand for Electrical / Autonomous vehicles rising in the market, there is also an up scaling competition happening on the sidelines. Two relative giants, masters of their trade- Tesla and Volvo have kick started an uproar. Competition is always good, it encourages manufacturers and entrepreneurs to broaden their horizons and offer more to customers.
While Tesla has skyrocketed in value off flashy products, lofty goals and Musk’s public persona, Volvo’s 90 years of experience coupled with massive Chinese financing could unseat Tesla from its perch as a top tech and luxury EV brand. Less than three months after the Model 3 launch, Volvo held a flashy introduction of its own: the Polestar electrified performance vehicle subbrand.
With an $11 billion investment from its new Chinese owner, Volvo rolled out a slew of well-received products packed with advanced driver assist technology. The makeover drove a sales streak, with 461,313 vehicles sold globally in the first 10 months of 2017, and a target of 800,000 vehicles sold annually by 2020. With Polestar, the automaker is branching out of its traditional customer base to a more niche, performance-minded buyer.
We decided to build an electric car that will be joining the competition around the Tesla Model 3.